(Newser)
–
Europe is continuing to get serious about Iran's nuclear ambitions, with EU member states agreeing in principle to ban the import of Iranian crude oil, reports the BBC. And while nuances must be hammered out—including whether and how long to exempt existing oil contracts with Iran, as well as identifying alternate sources of crude—France's foreign minister is calling for a deal by month's end. Such a ban could hit Tehran, whose currency is already choking on sanctions, hard: The EU purchases about 17% of Iran's oil exports.

Across the pond, the US State Department applauded the move: "These are the kinds of steps that we would like to see not just from our close allies and partners in places like Europe but from countries around the world," says a spokeswoman. "We do believe that this is consistent with tightening the noose on Iran economically."

The line in the sand is; closing the Strait of Hormuz. Choke off 40% of the World's oil supply and all but the irrelevant, far, far, left will support regime change in Iran. With it's vast oil reserves, Iran has absolutely no need to develop nuclear energy. Strong sanctions, covert operations, International pressure - Stay the course, Mr. President.

Fondue

Jan 5, 2012 8:49 AM CST

This will not keep Iran from developing atomic energy.

Rammrodd

Jan 5, 2012 7:52 AM CST

Meanwhile, "the EU" circles the drain on the way to the septic tank of history.